Apple Sales, Profits Rise; iPhone, Mac Shine - Twice

Apple Sales, Profits Rise; iPhone, Mac Shine

Cupertino, Calif. — Apple reported higher revenue and net profit for its fiscal third quarter, ended June 28, with iPhone sales up but iPad sales down on a year-on-year basis.
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Cupertino, Calif. — Apple reported higher revenue and net profit for its fiscal third quarter, ended June 28, with iPhone sales up but iPad sales down on a year-on-year basis.

Apple’s quarterly revenue was $37.4 billion, compared with $35.3 billion year on year, and net profits were $7.7 billion, up from $6.9 billion from the previous year.

iPhone sales were $19.75 billion, up 9 percent from the same quarter last year, with unit sales up 13 percent. iPad sales were $5.88 billion, down 8 percent, with unit sales down 9 percent.

Mac sales were up 18 percent to $4.41 billion, with unit sales up 13 percent year on year.

 Apple reported gross margin was 39.4 percent, compared with 36.9 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.

“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” said Tim Cook, Apple’s CEO. “We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”

Apple’s guidance for its fiscal 2014 fourth quarter is as follows: revenue between $37 billion and $40 billion and gross margin between 37 percent and 38 percent.

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